A Price Index Is

question 28

Multiple Choice

A price index is:

• A)a comparison of the price of one product with the change in real GDP
• B)a comparison of real GDP in one period relative to another
• C)the cost of a basket of products in a base or reference period divided by the cost of the same basket in another period
• D)a ratio of real GDP in one period to nominal GDP in another
• E)a measure of changes in prices

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Definitions:

Action Spectrum

A graph of the effectiveness of light at specific wavelengths in promoting a light-requiring reaction. Compare with absorption spectrum.

Absorption Spectrum

A graph of the amount of light at specific wavelengths that is absorbed as light passes through a substance. Each type of molecule has a characteristic absorption spectrum. Compare with action spectrum.

Carotenoids

A class of pigments found naturally in plants, algae, and photosynthetic bacteria, important for photosynthesis and providing coloration.

Chlorophylls

A class of green pigments responsible for the absorption of light energy during photosynthesis in plants, algae, and cyanobacteria.